(Reuters Photo)VIENNA: Thailand’s Central Group and Aeon Co of Japan have teamed up with the European online retailer Signa Sports Group to help it expand in Asia before the 2020 Olympics in Tokyo. Aeon will take a 7.5% stake in the business controlled by Austrian investor Rene Benko, and Central will buy a 4% stake, Signa said on Friday. He diversified into the retail business in the past few years and recently advanced into the media business. The parent Signa Retail, which generates sales of around 7.5 billion euros ($8.6 billion), is currently merging Germany’s largest department stores, Karstadt and Kaufhof. It has an ambitious five-year e-commerce strategy and has partnered with leading retail companies including the Chinese e-commerce giant JD.Com and the furniture retailer Ikea.

Source: Bangkok Post December 21, 2018 13:07 UTC